El Salvador continues to purchase one Bitcoin per day, as promised by President Nayib Bukele to the public. Since the project began in November of last year, more than 5,690 BTC have been acquired, boosting Bitcoin’s total value to $394 million.
Bukele’s statements support the mainstream consensus. Bitcoin whales have been eager to increase their holdings during the previous few weeks. According to Santiment’s on-chain data, wallets holding between 10 and 10,000 BTC actively accumulated 154,160 BTC, totaling $10.6 billion during the past five weeks.
Santiment’s on-chain data stated the following on its platform:
Furthermore, whales are hoarding, and bitcoin purchases are typical amid the current price spike. MicroStrategy has also completed its debt-financed target of increasing its current reserve by acquiring more than 12,000 Bitcoin. El Salvador is operationally stable until the price of Bitcoin falls in comparison to fiat money.
